Clifford Chance Advises WDP on €500 Million Green Bond Issuance

"Clifford Chance advised on WDP's first €500 million green bond issuance under its EMTN programme, collaborating with major banks including BNP Paribas and ING Bank. This marks WDP's entry into the public bond market, following a credit rating upgrade from Moody's. The funds will be used in line with WDP's Green Finance Framework, which received an "Excellent" rating from Sustainable Fitch, supporting the company's growth strategy and enhancing its standing among top-rated European real estate firms."

**Law Firms Involved in the Transaction:** Clifford Chance advised the global coordinators BNP Paribas and ING Bank, along with joint bookrunners ABN AMRO, Belfius, KBC, Morgan Stanley, and Natixis, on the establishment of Warehouses de Pauw’s (WDP) EMTN programme and its inaugural €500 million green senior unsecured bond issuance. **Transaction Overview:** This transaction marks WDP’s debut on the public bond market and follows Moody’s recent upgrade of WDP’s long-term issuer rating to A3 (stable outlook) from Baa1. The proceeds from the issuance will be allocated under WDP’s updated Green Finance Framework, which received an “Excellent” rating from Sustainable Fitch. This issuance supports WDP’s #BLEND2027 growth plan and reinforces its position among Europe’s highest-rated listed real estate companies. **Legal Team:** The Clifford Chance team was led by Wim Aerts and Sonia Belhassen from the Global Financial Markets (GFM) practice, with Thomas Linard de Guertechin and Sherine Denisse advising on tax matters.

Clifford Chance Advises WDP on €500 Million Green Bond Issuance

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